EURUSD 6E Euro | Currency Futures


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EURUSD 6E Euro

  #781 (permalink)

Massachusetts (USA)
 
Trading Experience: None
Platform: NinjaTrader
Favorite Futures: YM
 
stephenszpak's Avatar
 
Posts: 778 since Jun 2009
Thanks: 144 given, 365 received


monpere View Post
I think the only thing such chart analysis is good for, is if you are doing a 5 min guest spot with Maria Barturomo. the best way to become a successful trader is to search for a market phenomenon you identify with and trade it. I.e I am gonna trade every breakout/down in an up/down trend, or every pullback in a trend, or every double top/bottom at resistance/support, or every divergence in a weak trend, etc. Find one thing and trade it every time it setups according to your rules. Your trading will become fluid and automatic, no more second guessing, no more hesitation, no more psychological battle on every trade.

After a while, you will only have to look at any chart for 3 seconds to know if a trade is setting up, and you will know several bars before hand if a potential trade will or will not trigger. If you want more trading opportunities, find a couple of other uncorrelated markets and trade the same setups there as well. I only trade 2 very specific setups, and I do it on one index futures, one currency futures, and oil futures, so I look at 3 charts. I only need to look up at each monitor for 3 seconds each and know if I have a potential trade within the next several minutes or so.


(Wow, Christmas morning and you're on-line! Did you get a lot of nice toys?)

I know what you're saying. Just trying to understand charts better. There are many higher probability
set-ups. I really should pick a few. I don't see (at the moment) why I would ignore some and just trade
"2 very specific setups". Though my thinking can change real quick.

The only thing I'm thinking of with any seriousness for real trading is here:

https://futures.io/forex-currency-trading/7815-any-advantages-trading-spot-over-futures-2.html#post178980

- Stephen

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